Voith announced a deal to acquire a stake in TSA Photo: Voith
Technology Group Voith and Swiss holding company PCS Holding are planning to acquire a combined 59% of the shares in Traktionssysteme Austria GmbH (TSA), a leading manufacturer of electric motors, generators and transmissions.
The closing of the transaction is anticipated to occur during the second half of 2020 and is subject to regulatory approvals and meeting other usual closing conditions. Both parties agreed not to disclose the purchase price.
“Voith is the technology leader in drive technology in many industries. The portfolio and market position of TSA are an excellent addition to our drive solutions in the rail and commercial vehicles sector and supports our position as a technology-independent supplier of drive systems,” said Dr. Uwe Knotzer, Member of the Voith Corporate Board of Management and President & CEO Group Division Voith Turbo. “With the 60 years of experience of TSA, we will achieve a significant advantage for our customers in drivetrain electrification.”
“This transaction will enable PCS Holding to secure top technology in the field of electric drive technology for its strategic investments in the long term. In addition, we expect the cooperation with Voith to provide decisive impulses for the development of new market potentials. PCS Holding considers TSA to be in an excellent position to benefit from the general trend towards electrification of drive technology in various industries,” says Oliver Streuli, CEO of PCS Holding.
After completion of the transaction, TSA will be owned by the Voith Group, PCS Holding, the previous, longstanding shareholder Duswald GmbH and the Managing Director of TSA, Magister Robert Tencl.